CIM
Chimera Investment CorporationReal Estate·REIT - Mortgage
$13.62
$1.1B market cap
Revenue
$709.5M
Free Cash Flow
$-54.4M
Rev Growth
+6.8%
FCF Margin
-7.7%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Chimera Investment Corporation operates as a real estate investment trust (REIT) in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency and non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of residential, commercial mortgage loans, and other real estate related securities. It has elected to be taxed as a REIT. In addition, the company invests in inves
2-Year Price History
$13.26+34.6%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 210.3 | 108.0 | 133.0 | -43.9 | 243.3 | 243.3 | -0.0 | 476.2 | 12,734 | 83.7 | 4.1% | 0.8x | 30.2x |
| Act | 2025-Q4 | 209.3 | 186.7 | 176.9 | 28.3 | -152.8 | -152.8 | -0.0 | 278.6 | 13,071 | 82.7 | 5.3% | 1.2x | 41.9x |
| Act | 2025-Q3 | 229.8 | 144.7 | 143.8 | -0.6 | -137.5 | -137.5 | -0.0 | 493.6 | 12,224 | 81.5 | 4.6% | 1.0x | 88.9x |
| Act | 2025-Q2 | 60.1 | 0.0 | 0.0 | 35.5 | -7.4 | -7.4 | -0.0 | 250.2 | 11,738 | 82.6 | 0.0% | 0.0x | -- |
| Act | 2025-Q1 | 197.0 | 0.0 | 0.0 | 167.3 | 48.8 | 48.8 | -0.0 | 253.4 | 10,397 | 82.4 | 0.0% | 0.0x | -- |
| Act | 2024-Q4 | -113.5 | 0.0 | 0.0 | -146.5 | 38.0 | 38.0 | -0.0 | 84.1 | 10,015 | 82.3 | 0.0% | 0.0x | -- |
| Act | 2024-Q3 | 152.0 | 0.0 | 0.0 | 136.5 | 41.4 | 41.4 | -0.0 | 97.4 | 10,750 | 81.9 | 0.0% | 0.0x | -- |
| Act | 2024-Q2 | 73.7 | 0.0 | 0.0 | 56.7 | 69.0 | 69.0 | -0.0 | 162.3 | 9,913 | 82.3 | 0.0% | 0.0x | -- |
| Act | 2024-Q1 | 145.8 | 0.0 | 0.0 | 129.5 | 57.3 | 57.3 | -0.0 | 169.0 | 9,794 | 81.7 | 0.0% | 0.0x | -- |
| Act | 2023-Q4 | 48.5 | 0.0 | 0.0 | 30.5 | 31.3 | 31.3 | -0.0 | 221.7 | 10,109 | 77.5 | 0.0% | 0.0x | -- |
| Act | 2023-Q3 | 18.1 | 0.0 | 0.0 | 2.2 | 44.7 | 44.7 | -0.0 | 138.6 | 10,278 | 75.6 | 0.0% | 0.0x | -- |
| Act | 2023-Q2 | 57.4 | 0.0 | 0.0 | 36.0 | 106.8 | 106.8 | -0.0 | 200.9 | 10,805 | 78.0 | 0.0% | 0.0x | -- |
| Act | 2023-Q1 | 80.8 | 0.0 | 0.0 | 57.4 | 30.4 | 30.4 | -0.0 | 232.4 | 10,780 | 78.4 | 0.0% | 0.0x | -- |
| Act | 2022-Q4 | 129.4 | 0.0 | 0.0 | 97.2 | 26.4 | 26.4 | -0.0 | 264.6 | 10,614 | 77.3 | 0.0% | 0.0x | -- |
| Act | 2022-Q3 | -170.5 | 0.0 | 0.0 | -186.2 | 40.6 | 40.6 | -0.0 | 86.2 | 10,255 | 77.3 | 0.0% | 0.0x | -- |
| Act | 2022-Q2 | -132.3 | 0.0 | 0.0 | -161.3 | 122.7 | 122.7 | -0.0 | 158.5 | 10,913 | 78.4 | 0.0% | 0.0x | -- |
| Act | 2022-Q1 | -241.8 | 0.0 | 0.0 | -262.8 | 135.9 | 135.9 | -0.0 | 165.7 | 11,519 | 79.0 | 0.0% | 0.0x | -- |
Historical Valuation
Multiples vs the company's own history — cheap or rich relative to itself? Historical fiscal years, then TTM, then forward projections (E). Forward rows hold today's price against projected earnings, so the multiple compresses if the company grows into it.
| Year | Price | Rev Gr | EBITDA % | EBITDA | EV/EBITDA | EV/FCF | P/E | P/S |
|---|---|---|---|---|---|---|---|---|
| 2022 | 11.74 | — | 0.0% | 0 | — | 35.5× | n/m | n/m |
| 2023 | 12.08 | -149.3% | 0.0% | 0 | — | 52.0× | 9.6× | 5.9× |
| 2024 | 12.51 | +26.0% | 0.0% | 0 | — | 54.4× | 7.2× | 4.9× |
| 2025 | 12.43 | +169.9% | 47.6% | 331 | 41.9× | n/m | 4.8× | 1.6× |
| TTM | 13.62 | +129.6% | 61.9% | 439 | 0.0× | 0.0× | 0.0× | 0.0× |
EBITDA in reporting-currency $M. Historical multiples use year-end market cap (split-adjusted price history); TTM & forward years use today's.
Valuation & Metrics
Market Stats
Price$13.62
Market Cap$1.1B
Enterprise Value$13.4B
P/S Ratio1.6x
P/FCF--
EV/FCF--
FCF Margin (TTM)-7.7%
FCF Yield-4.8%
Dividend Yield (TTM)11.5%
Annual Dilution1.5%
CurrencyUSD
TTM Financial Snapshot
Revenue$709.5M
Net Income$19.3M
Free Cash Flow$-54.4M
Revenue Growth (YoY)+6.8%
EBITDA Margin61.9%
Net Margin2.7%
FCF Margin-7.7%
CapEx % of Revenue0.0%
SBC % of Revenue2.9%
ROIC3.5%
WC Change % Rev1518.9%
Interest Coverage0.8x
Forward Outlook & Risk
Short Interest
Short % of Float2.1%
Short Shares1.7M
Days to Cover2.6
Change (vs Prior)-6.0%
Short % Float History
2.10%+0.60pp
Options
Call IV (ATM)19%
Put IV (ATM)35%
ATM Spread1.5%
Call $OI (near money)$150K
Put $OI (near money)$55K
ATM ExpiryJuly 17, 2026 (56D)
ATM Strike$13.0
Major Expirations2
Near-money chain · July 17, 2026
| Strike | Call Bid/Ask | Call OI | Put Bid/Ask | Put OI |
|---|---|---|---|---|
| $10.00 | $2.70/$4.10 | 0 | --/$0.75 | 0 |
| $11.00 | $1.80/$3.30 | 0 | $0.05/$0.35 | 4 |
| $12.00 | $0.85/$2.30 | 0 | $0.15/$0.30 | 0 |
| $13.00 | $0.50/$0.70 | 0 | $0.45/$0.65 | 21 |
| $14.00 | $0.10/$0.25 | 0 | $0.65/$1.80 | 0 |
| $15.00 | --/$0.30 | 1 | $1.55/$2.70 | 0 |
| $16.00 | --/$0.75 | 0 | $2.30/$3.90 | 0 |
| $17.00 | --/$0.75 | 0 | $3.30/$4.90 | 0 |
Snapshot: 2026-05-22
Employees
Headcount77
Revenue / Employee$9,213,805
Gross Profit / Employee$8,456,494
2022: 39 → 2023: 39 → 2024: 77 → 2025: 423 (121% CAGR)
Institutional Ownership
Headline & net flow
NET BUYING
In Q1 2026 so far (quarter still filing), institutions are net buyers — bought 5.3% of float, sold 2.7%.
Net flow · Q1 2026still filing
+2.5% of float (net)
Bought 5.3% · Sold 2.7%
199 filers reported (last quarter: 203)
Ownership composition
Active
29.4%(+7.6% YoY)
178 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
21.9%(-0.9% YoY)
10 filers
Vanguard, iShares, SPDR
Market makers
0.5%(+0.1% YoY)
5 filers
Citadel, Susquehanna
Insiders
4.6%
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| BlackRock, Inc.Passive | $90.0M | $13.67 | −$2.3M | −$4.0M | -0.2% | $5.69T |
| THORNBURG INVESTMENT MANAGEMENT INC | $68.7M | $13.66 | +$2.6M | +$68.7M | +2.0% | $9.63B |
| VANGUARD PORTFOLIO MANAGEMENT LLCPassive | $45.3M | $12.55 | +$45.3M | +$45.3M | — | $1.91T |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $43.9M | $12.55 | +$43.9M | +$43.9M | — | $4.04T |
| Allianz Asset Management GmbH | $26.7M | $11.90 | +$3.3M | +$10.9M | -0.2% | $86.14B |
| STATE STREET CORPPassive | $24.4M | $10.99 | +$426K | +$36K | -0.2% | $2.89T |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $24.0M | $11.04 | −$815K | +$361K | +2.3% | $1.61T |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $19.9M | $10.89 | −$447K | −$3.0M | +0.7% | $645.81B |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $18.7M | $11.84 | +$5.3M | +$8.1M | +1.7% | $73.71B |
| LSV ASSET MANAGEMENT | $16.0M | $11.92 | −$127K | −$1.8M | +0.0% | $46.40B |
| TWO SIGMA INVESTMENTS, LP | $15.0M | $12.43 | +$4.4M | +$7.3M | -0.9% | $117.03B |
| Leeward Investments, LLC - MA | $13.8M | $11.74 | −$371K | +$7.2M | -0.4% | $2.03B |
| WOLVERINE ASSET MANAGEMENT LLC | $11.7M | $12.16 | +$2.8M | +$8.6M | +1.9% | $2.32B |
| VAN ECK ASSOCIATES CORP | $10.6M | $11.39 | +$351K | +$2.4M | +0.8% | $133.17B |
| NORTHERN TRUST CORPPassive | $9.1M | $11.16 | +$580K | −$493K | -0.2% | $755.34B |
| Qube Research & Technologies Ltd | $7.8M | $12.53 | +$1.4M | +$6.6M | +0.3% | $70.36B |
| MORGAN STANLEY | $7.6M | $12.02 | +$239K | +$1.2M | -0.3% | $1.65T |
| FIRST TRUST ADVISORS LP | $6.8M | $11.98 | +$3.1M | +$3.1M | +0.1% | $139.72B |
| VANGUARD FIDUCIARY TRUST COPassive | $6.7M | $12.55 | +$6.7M | +$6.7M | — | $395.83B |
| UBS Group AG | $6.0M | $11.87 | −$3.6M | +$1.6M | -0.3% | $562.11B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BULLISH
Holders
+0.62%
avg per quarter
Holders (ex-self)
+0.63%
excl. this stock
Buyers (this Q)
+0.43%
84 buyers · $0.14B in
Sellers (this Q)
-0.15%
71 sellers · $0.03B out
alpha coverage: 83% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
+54.6%
how holders react when this stock falls
On quiet Qs
-1.4%
−10% to +10% baseline
On rallies (+10%+)
-17.3%
how they react when this stock rises
Holders' portfolio flow this Q
+6.0%
inflows — adds are organic
Sellers' portfolio flow this Q
+3.7%
Sellers grew AUM elsewhere — opinionated cut of this stock.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-1.9%
Holder mid (any stock)
-3.1%
Holder rally (any stock)
-9.9%
Biggest decreases this quarter
UBS Group AG−$3.6Mα-0.3SG Americas Securities, LLC−$2.5Mα-0.1BlackRock, Inc.−$2.3Mα-0.2ExodusPoint Capital Management, LPexited−$1.5MGEODE CAPITAL MANAGEMENT, LLC−$815Kα+2.3TEACHER RETIREMENT SYSTEM OF TEXASexited−$692KY-Intercept (Hong Kong) Ltdexited−$678KSquarepoint Ops LLCexited−$562KJANE STREET GROUP, LLCexited−$538KCHARLES SCHWAB INVESTMENT MANAGEMENT INC−$447Kα+0.7
New buyers this quarter
Top-5 holders · 47.4%
BlackRock, Inc.--
THORNBURG INVESTMENT MANAGEMENT INC--
VANGUARD PORTFOLIO MANAGEMENT LLC--
VANGUARD CAPITAL MANAGEMENT LLC--
Allianz Asset Management GmbH--
Put / call ratio: 1.36 (+54.8% QoQ) — net bearish options
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
THORNBURG INVESTMENT MANAGEMENT INC5.5MCHARLES SCHWAB INVESTMENT MANAGEMENT INC1.6MAllianz Asset Management GmbH2.1MBALYASNY ASSET MANAGEMENT LLC15KLSV ASSET MANAGEMENT1.3MMIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.1.5MTWO SIGMA INVESTMENTS, LP1.2MLeeward Investments, LLC - MA1.1MD. E. Shaw & Co., Inc.—WOLVERINE ASSET MANAGEMENT LLC936K
Analyst Coverage
Analyst Coverage
Price Targets
Last Year (2 analysts)$14.25460.0%
Current Price$13.62
Analyst Ratings
3
10
3
Buy: 3Hold: 10Sell: 3Consensus: Hold
Consensus Estimates
| Quarter | Revenue | EBITDA | Net Inc | EPS | EPS Range | # Analysts |
|---|---|---|---|---|---|---|
| 2026 Q3 | 104M | 20M | 45M | $0.54 | $0.54 – $0.54 | 1 |
| 2026 Q4 | 101M | 19M | 45M | $0.53 | $0.53 – $0.53 | 1 |
| 2027 Q1 | 101M | 20M | 49M | $0.58 | $0.58 – $0.58 | 1 |
| 2027 Q2 | 107M | 21M | 51M | $0.61 | $0.61 – $0.61 | 1 |
| 2027 Q3 | 106M | 21M | 51M | $0.61 | $0.61 – $0.61 | 1 |
| 2027 Q4 | 101M | 19M | 48M | $0.58 | $0.58 – $0.58 | 1 |
| 2028 Q1 | 99M | 19M | 47M | $0.56 | $0.56 – $0.56 | 1 |
| 2028 Q2 | 104M | 20M | 49M | $0.59 | $0.59 – $0.59 | 1 |
| 2028 Q3 | 104M | 20M | 49M | $0.59 | $0.59 – $0.59 | 1 |
| 2028 Q4 | 100M | 19M | 47M | $0.57 | $0.57 – $0.57 | 1 |
Corporate
Executive Compensation (2008-2010)
Direct Pay$2.8M
Incentive & Other$0.0M
Total Compensation$2.8M
% of Revenue0.2%
Order Flow (FINRA, ~3w lag)
29.0%retail-0.3pp
17.4%dark-1.7pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Revenue Breakdown
Revenue Segments
By Product (2019-Q3)
| Investment Advisory Services | $6.5M | +0% |